The KSA cosmetics market, worth $ 4.7 billion as of 2015, is projected to grow at CAGR 12.64% to $ 8.53 billion by 2020. Saudi Arabia is a country with high GDP per capita, and an administration which is modern, yet has further growth to witness with regards to women at the workplace. Increasingly, as more women join the workplace, the need to look good, as well as purchase cosmetics has become important, and not just based on oneâ€™s preference. Furthermore, an increased influx of tourists has boosted the sales of cosmetics. The country is going through a period of urbanization as well as a gender call to workforce, where a large number of women are joining the workforce and have disposable income to themselves, ready to spend on aspirational needs like beauty and personal appearance. The average Saudi Arabian woman spent no less than US$ 3800 on cosmetics as of 2014.
The predominant trends for cosmetics include lasting power and new color palettes, increasing market share for ethnic products, and an increased preference for vegan, organic and natural beauty products, enhanced through usage of other ingredients, to mitigate harmful effects of pollution, sun, dust, especially in the high temperature and dry environs in Saudi Arabia, and harmful ingredients typically a part of cosmetic products. A trend which has been witnessed is the demand for specialized care products, which are made affordable because of high disposable income.
Distribution is pervasive through exclusive stores of luxury products in malls, stores or through direct selling channels. Ecommerce is emerging as a competitor to direct sales for all mass and premium brands. Customers are increasingly looking for value for money products offering a makeup look and a range of other benefits like anti-ageing, fresh-looking, anti-pimples/sebum controlling, moisturizing, etc. and also contain the increasingly popular ingredient kind natural ingredients. It is because of this, that products like BB, CC, DD and EE creams have increased in popularity.
The most important trend in cosmetics in SAUDI ARABIA is that of Halal cosmetics. Because of religious restrictions on the use of some products, Halal, or alternatively, vegan or organic products made from pure and natural ingredients is gaining market traction.
Famous brands include Estee Lauder (with X.X% of the market), which has been capturing market share because of the specific solutions offered, and high disposable income. Other international companies have captured large swathes of the market share in cosmetics in Saudi Arabia.
Increasing urbanization, more women at the workplace, increase of disposable income, increased inclination for better appearance, growing market are some of the drivers of this market.
Market restricted by Halal regulations, cultural and religious perceptions implemented by Saudiâ€™s religious Kingdomâ€™s police, preventing women from using makeup, or letting them use it only to a certain level which is not interpreted as ostentatious, lack of a high proliferation of mass market brands, insufficient participation of women in the workforce, are some of the challenges of this market.
This Report Offers:
Market Definition for the specified topic along with identification of key drivers and restraints for the market
Market analysis for the Saudi Arabia Cosmetics Market, with region specific assessments and competition analysis on a Saudi Arabia and regional scale
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a Saudi Arabia and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
Identification and analysis of the Macro and Micro factors that affect the Saudi Arabia Cosmetics Market on both Saudi Arabia and regional scale
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
1.1 Study Deliverables
1.2 Study Assumptions
2. Research Methodology
3. Executive Summary
4. Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat from new entrants
4.3.4 Threat from substitute Products
4.3.5 Competitive rivalry within the industry
4.4 Industry Policies
5. Market Dynamics
5.1.1 Innovation in Packaging and Design
5.1.2 Aging population
5.1.3 Growth of E-Commerce
5.1.4 Increasing access to Middle-bottom segment of pyramid consumers
5.2.1 New medical technologies for beauty enhancements
5.2.2 Volatile Raw Material Prices
5.3.1 Growing Demand for Organic Products
6. Saudi Arabia Cosmetics Market Segmentation
6.1 By Product Types
6.1.1 Hair care products
6.1.2 Skin care products
6.1.3 Oral care products
6.1.4 Make up & Color Cosmetics products
6.1.5 Fragrances & Deodorants
6.1.6 Soaps and shower gels
6.1.7 Sun care products
6.2 by Distribution Channel
6.2.1 Direct selling
6.2.2 Hypermarkets/ Retail Chains
6.2.4 Specialty stores
7. Vendor Market Share Analysis
8. COMPANY PROFILES
8.1 L'Oreal Group
8.2 Procter & Gamble
8.3 Beiersdorf AG
8.4 Avon Products, Inc.
8.6 The EstÃ©e Lauder Companies Inc.
8.8 Kao Corp.
8.9 Revlon Inc.
8.10 Mary Kay
8.11 Yves Rocher
8.12 Oriflame Cosmetics S.A
9. Investment Analysis
9.1 Recent Mergers & Acqisitions
9.2 Strategic Alliances
9.3 Investment Scenario
10. Future Of Saudi Arabia Cosmetic Products